Sowell Financial Services LLC Has $55.20 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Sowell Financial Services LLC grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,726 shares of the exchange traded fund's stock after acquiring an additional 2,191 shares during the quarter. Invesco QQQ comprises 2.5% of Sowell Financial Services LLC's investment portfolio, making the stock its 3rd largest position. Sowell Financial Services LLC's holdings in Invesco QQQ were worth $55,204,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Proficio Capital Partners LLC increased its stake in Invesco QQQ by 51,292.3% in the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after purchasing an additional 11,478,188 shares during the period. NWI Management LP grew its position in shares of Invesco QQQ by 121.6% in the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after buying an additional 3,648,000 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after buying an additional 1,868,580 shares during the last quarter. Senator Investment Group LP bought a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $679,936,000. Finally, Artemis Wealth Advisors LLC grew its position in shares of Invesco QQQ by 1,337.4% in the 4th quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund's stock worth $423,470,000 after buying an additional 895,277 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 1.3%

NASDAQ QQQ opened at $526.96 on Monday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $540.81. The firm has a market capitalization of $330.22 billion, a PE ratio of 32.66 and a beta of 1.11. The stock's 50 day moving average is $492.58 and its 200 day moving average is $502.73.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were given a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

Invesco QQQ Profile

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust's investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.

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